Aurion Discovers Extensive New Gold Mineralization at its Launi East Project in Northern Finland
TSX-V: AU
ST. JOHN'S, Aug. 22, 2019 /CNW/ - Aurion Resources Ltd. (TSX VENTURE:AU) ("Aurion" or the "Company") is pleased to report on the discovery of multiple new gold prospects over a greater than 5 km distance at its 100% owned Launi East Project in northern Finland.
Highlights:
- 248 rock sample assays received to date assayed as high as 313 g/t Au and averaged 18.9 g/t Au
- Multiple new mineralized zones over 1.0 by 5.5 km area, with 10 new visible gold occurrences
- Mineralization associated with strong alteration from 10 to > 100 metres wide
- Assays have been received for 248 samples to date, > 650 rock sample assays pending
- Trenching, ground geophysics and detailed mapping are underway
- No documented history of mineral exploration or mineral claims in the area
- Property straddles a major flexure along the Sirkka Shear Zone
- Click the link below for maps and photos:
Summary
Follow-up of the 2018 discovery of gold mineralization at Aurion's wholly owned 4,250-hectare Launi East Project has resulted in the discovery of several new zones of gold mineralization over a north-south distance of 5.5 km within a 1.0 km wide corridor. Strong alteration, locally from 10 to > 100s metres wide, comprising fuchsite, tourmaline, sericite, iron oxide and iron-carbonate is associated with the gold mineralization.
Individual zones can be traced for > 100 to 300 m in outcrop and sub-outcrop and are generally several metres wide. Approximately 900 rock grab samples were collected within this 5.5 km2 area. Overburden (glacial till) cover is generally < 2 m thick within this area.
Partial assays have been received from two of these new zones, over a distance of approximately 700 m. Two hundred and fourteen (214) of the two hundred and forty-eight (248) rock samples assayed from nil to 313 g/t Au, averaging 21.75 g/t Au with a median grade of 6.03 g/t Au. Eight samples assayed > 100 g/t Au, 34 assayed > 50 g/t Au, 50 assayed > 31 g/t Au, 79 assayed > 15 g/t Au and 111 assayed > 5 g/t Au. They are further discussed below.
Kookoo Zone
Located approximately 200 m northwest of the Christmas Zone (see below) a total of 134 rock grab samples from angular boulders and sub-outcrop over an area > 250 m by 150 m assayed from nil to 313.00 g/t Au, averaging 31.59 g/t Au with a median grade of 15.43 g/t Au. Mineralization is comprised of stockwork, breccia and massive quartz veins with coarse euhedral pyrite and locally visible gold.
Christmas Zone
This mineralized zone, which is up to several metres wide and has been traced for > 130 m, was discovered in outcrop in late 2018. At that time, 52 rock samples collected from angular boulders and outcrop, assayed from nil to 74.30 g/t Au, averaging 10.00 g/t Au (see press release dated February 12th, 2019). During the current field season an additional 61 rock samples were collected from this zone assaying from nil to 85.8 g/t Au, averaging 6.93 g/t Au with a median grade of 0.57 g/t Au. Mineralization is primarily comprised of stockwork, breccia and massive quartz veins with heavy disseminated to massive bands of iron oxide (hematite) up to 30 cm wide along with pyrite and trace visible gold in the quartz veins.
Discussion
The mineralized zones identified at Launi to date appear to show lateral continuity along strike and individual zones can be traced for up to 300 m. Visible gold, where observed, is generally very fine. This may suggest the gold has a high fineness further evidenced in minor variability between standard fire assay and screen fire assay results for the same samples.
Several other new zones of mineralization identified on the attached figure will be discussed in future news releases when assays are received. Visible gold was observed in several of these.
These showings are located within < 1 km of a major flexure in the > 125 km long regional scale Sirkka Shear Zone, a major regional fault zone, which the property straddles. The GTK's (Geological Survey of Finland) work suggests this is a tectono-stratigraphic boundary between the Archean and Proterozoic terranes. In metallogenic terms this is an ideal location for the siting of orogenic gold deposits.
The Launi East Project lies approximately 8-10 km south of the Risti Project, 10 km west-northwest of the Municipality of Sodankylä and is easily accessed by gravel roads. The property has had no documented history of mineral exploration or mineral claims.
The sampling to date is preliminary in nature and consists primarily of grab samples of sub-outcrop, outcrop and quartz boulders in glacial till. Although every effort is made to ensure that the samples are representative, the very nature of this type of sampling involves natural variations and inconsistencies. Insufficient work has been carried out to date in order to determine the source of many of the mineralized quartz boulders.
Comment
"The discovery of extensive new gold mineralization in another project area with no history of mineral exploration again demonstrates how underexplored the Central Lapland Greenstone Belt (CLGB) and the Sirkka Shear Zone are", commented Mike Basha, President and CEO. "Moreover, the high rate and number of surface discoveries we are making both at Launi and Risti suggests large scale hydrothermal systems at play, demonstrating the huge unrealized potential of the CLGB."
Background
The geological setting of the Launi East Project has many similarities to prolific gold-rich orogenic gold belts globally, including the Timmins camp of the Abitibi province of Northern Ontario. Aurion has land holdings covering approximately 80 km of the Sirkka Shear Zone. In the Abitibi province, many high-grade, multimillion-ounce gold deposits are temporally and spatially associated with major regional fault zones such as the Porcupine-Destor or Cadillac Lake-Larder Lake deformation zones. The Sirkka Shear Zone has many hallmark characteristics as these belts which have produced many millions of ounces of gold, however it lacks the history of systematic gold exploration.
Quality Assurance and Quality Control
All samples were delivered to ALS Minerals preparation facility in Sodankyla, Finland where sample preparation work was completed. All analytical work was completed at ALS Minerals facility in Loughrea, Ireland. ALS Minerals is an internationally accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). All samples were analyzed for gold using the Au-AA26 procedure (50g fire assay with AAS finish: Lower Detection Limit 0.01 g/t gold; Upper Limit – 100 g/t gold). Any samples that returned over-limit values (>100 g/t gold) or had visual indication of mineralization, such as visible gold or prospective vein intervals (>1.5 g/t gold) were analyzed by Au-SCR24 1kg, Screen Fire Assay Au (0.05-1,000 ppm) by 1kg screen fire assay (50g nominal sample weight). The sample pulp (1kg) is passed through a 100 micron stainless steel screen. Any material remaining on the screen (>100 micron) is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction. The material passing through the screen (<100 micron) is homogenized and two sub-samples are analyzed by fire assay with AAS finish. The average of the two AAS results is taken and reported as the Au (-) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions. The gold values for both the (+) 100 and (-) 100 micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample.) Multi-element analysis (ME-ICP61, four-acid digestion, 35 element ICP-AES) was completed on all samples. Certified standards and blanks were inserted every 30 samples. ALS has its own QA/QC protocol using standards, blanks and duplicates.
Mike Basha, P.Eng., P.Geo., President and CEO of Aurion, a Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of this release. For more information on these projects please visit our website at www.aurionresources.com.
Forward-Looking Statement
Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companies' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and Aurion is not obligated to update or revise any forward‑looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward‑looking information. The foregoing statements expressly qualify any forward‑looking information contained herein.
On behalf of the Board of Directors,
Michael Basha, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Aurion Resources Ltd.
Mike Basha, President & CEO, (709) 699-8300, (709) 722-2141, [email protected]
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